Rumours are rife that Tom Hiddleston and Taylor Swift have called it quits on their relationship.

"Thor" actor Tom Hiddleston became the butt of jokes during the Fourth of July weekend when he was spotted wearing an I Love T.S. tank top while frolicking on the beach with his new girlfriend Taylor Swift and her pals.

Hiddleston recently joined Instagram and his celebrity pals did not waste an opportunity to make fun of him for his romance with Swift. Robert Downey Jr. poked fun at the actor's new relationship with a "I love T.S." joke, writing: "Join me in welcoming the biggest T. Stark fan of them all to Instagram! @twhiddleston."

And during a recent interview with the Los Angeles Times, Hiddleston seemed squeamish when the topic of the Instagram post came up. "Robert and I are very close and I got to know him working on the Avengers in 2011. There's a lot of mutual affection," Hiddleston said.

According to new rumours, Hiddleston is trying to maintain a distance with Swift and he has already asked her for more space. Reportedly, Swift's "possessiveness" and her eagerness to get married have ruined the romance for Hiddleston.

"When Tom packed up and left Taylor's L.A. home, he refused to allow her to accompany him," an insider told British publication Reveal. "He says he needs a few weeks of 'alone time,' and assured Taylor that the space apart will strengthen their relationship."

"When they got back to L.A., she wanted to be with him every second of the day," the source continued. "He barely had time to make calls, and had to beg her to let him go to the gym alone. He needs time to think things through. He just needs to breathe."

The couple has not been photographed together since July 27, and many believe the couple has called it quits. Hiddleston and Swift got together shortly after she ended her romance with Scottish DJ Calvin Harris.